Institute for Far Eastern Studies (FES)
Despite the tough sanctions of the international community, Pyongyang’s Autumn International Trade Fair has opened. A standout in this year’s proceedings is that, unlike previous years, there are now more North Korean companies participating than foreign companies.
According to reports in Chosun Sinbo, a pro-North Korean newspaper published in Japan, the trade fair was held from September 5th to 8th in Pyongyang’s Three Revolutions Exhibition Hall. A total of 15 national and 280 regional companies in fields as diverse as electronics, machinery, metals, construction materials, transport, medicine, agriculture, light industry and foodstuffs participated.
The newspaper’s reporting highlighted “the release of many processed products for export using domestically produced materials as a result of cutting-edge science and technology introduced into our country’s [North Korea] factories and workplaces, upholding the value of autonomy and self-strengthening, which is a feature of this, the 12th Pyongyang Autumn Trade Fair.”
In addition, the newspaper added that “in the recent few years, the fair has seen a rising number of domestic (North Korean) companies participate, and this time around too, there were more domestic than foreign companies involved. . . . As with previous years, domestic companies have bravely displayed many light industrial products, with the number of products from the electrical sector rising every year being particularly noteworthy.”
The newspaper especially pointed out “in recent years, research and development, and production of a variety of electrical and electronic products with our branding has been actively proceeding in [North] Korean factories. . . . There are now more than 30 brands of electrical products being produced including ‘Blue Sky’ and ‘Morning’, with 10 such brands being on display at this year’s autumn trade fair.”
These companies exhibited up-to-date consumer electronics including tablet computers, desktops, laptops and LCTVs.
Ri Gyong Sim (36), an employee of the Rakwon General Trade Company (participating for the second time in the trade fair) stated that “of late, demand has been rising amongst the people for electrical goods with our brand name. . . . this is because, first of all, our credibility is guaranteed by production units, and direct sales points also do repairs, so the consumer’s demands for convenience are satisfied.”
Ri also said that coming to the fair allowed him to check what was good about competitors’ products and this would help his company improve their offering. He also said that “there is a multiplier effect in quality terms with the products on display at the trade fair as domestic companies compete with the same products.”
What’s more, there were many participants from the Fareast including China and Mongolia, and Southeast Asia, including Singapore, Malaysia, Thailand, Indonesia, and Vietnam. Russian, German, and Italian participants were also present.
The newspaper pointed especially to the fact that “since last year, Singaporean companies, food companies in particular, have shown an active interest in trading with [North] Korea.”
This includes a Singaporean trade company called Gold Kili, a manufacturer and seller of drinks including coffee and a variety of teas. It is a famous food company in Singapore, which exports its products to 30 countries.
The company’s head, Chu Wai (44) said that of the products on display at the Trade Fair, the Korean people purchased much coffee in particular, and that he was satisfied with having a number of discussions about commercial transactions.
